- China: Low US Interest Rates Threaten Recovery
- Hedge Fund Billionaire Paulson Reports New Citi Stake
- White House Plans to Freeze Spending to Cut Deficit
- Cramer: 5 Earnings Reports to Watch Next Week
- Court Rejects 'Clawbacks' for Alleged Stanford Victims
- Cities With the Most Home Price Reductions
- Tax Credit Sparking First-Time Home Sales: Realtors
- Investors Cut Back US Stocks for Bigger Growth Abroad
- This Year's Biggest Thanksgiving Leftover: Cash
- U.S. Stocks Rally for the Second Straight Week
- Dollar is Not Plunging—So 'Calm Down': Market Strategist
- Strategists Say Markets Have More Upside — But How Much?
- Hirschhorn: Risk-Averse Traders
- Roginsky: A Funny Thing Happened on the Way to Financial Reform
- This Year's Biggest Thanksgiving Leftover: Cash
- TV Series Inks Unique Deal For Fight
- First Time Buyers Rescue Housing: Realtors
- Dollar General Trades Higher After Its IPO
MOST SHARED
- CNBC Video: Warren Buffett & Bill Gates - Keeping American Great
- CNBC TRANSCRIPT: Warren Buffett & Bill Gates - Keeping America Great
- Today's Market Action
- Has Twitter's Finest Hours (Seconds) Come and Gone?
- Microsoft's Bill Gates Praises Apple's Steve Jobs For 'Saving the Company'
- China's Role as Lender Alters Dynamics for United States
- Inside Wal-Mart's Acai Berry Juice Maker
- Israel Going Green
Text Size 
Wachovia's name will no longer appear on the 2009 PGA Tour tournament it sponsors.
In fact, the tournament won't even use the name of bank's parent company, Wells Fargo [WFC
Loading...
()
], which received $25 billion in TARP funds.
 |
Chuck Burton / AP |
The company said in a news release issued this afternoon that the tournament, which will be played from April 27-May 3, will instead be renamed the Quail Hollow Championship.
"Wachovia has been proud to support our communities and build our business for the past six years through our involvement with the Wachovia Championship and the PGA Tour, and we had renewed our contract to sponsor the tournament in early 2008," said David Carroll, head of Wells Fargo's Wealth Management, Brokerage and Retirement Services Group.
"Given the merger integration with Wells Fargo and Wachovia, we believe it no longer makes sense to invest in promoting the Wachovia brand via the tournament," said Carroll.
"In the current environment, we also believe that promoting this event with our brand could send mixed signals about our priorities to many of our stakeholders. Also, as a result, our company will not host any client entertainment events in connection with the Championship," he said.
Print
Email
- Warren Buffett and Bill Gates spoke to Columbia students, and Buffett made the students a startling offer.
- For the chief of cable company Comcast, growth has been about making deals – generally very large deals.
- Some companies may start using insurance to shift carbon risk from their balance sheets to maybe... yours?
- The president and founder of Genesis Today wants to improve America’s health, and thinks Wal-Mart can help.
- Switzerland's privacy watchdog is taking legal action to force Google to make changes to its Street View service.
- A wealthy, distracted Texas driver crashed his million-dollar Bugatti Veyron sports car into a salt marsh, say police.
Data is a real-time snapshot *Data is delayed at least 15 minutes